Getting an allowance is a pretty common childhood experience. Generally the idea is that parents want to teach kids about managing money. But whether it ‘works’ or not (and to what end) is an entirely different matter, subject to much debate.
In this week’s episode of Best of Both Worlds, Sarah and I discuss allowances of all kinds. We talk about adult “allowances” — the idea of fun money, built into the family budget, that each adult can spend as they wish. Then we talk about kid allowances — whether they make sense, how they are structured, and why people give them. Finally we talk about “making allowances” — listing various house rules and personal rules, and when we’ve chosen to create exceptions to those guidelines.
Please give the episode a listen! And as always we welcome ratings and reviews — they help new listeners find us and choose to listen for the first time.
Did you get an allowance as a kid? Do you give your kids an allowance now? Do you, personally, have an adult allowance?